Against the Current - Privatization, Water Markets, and the State in Chile (Hardcover, 1998)

Carl J. Bauer

Series: Natural Resource Management and Policy, v. 14

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In 1981 Chile's military government dictated a new Water Code that
radically changed the country's previous water rights system by
strengthening private property rights, favoring market incentives,
and reducing state regulation. Against the Current: Privatization,
Water Markets, and the State in Chile is the first empirical and
interdisciplinary study of water markets in Chile, which is the
leading international example of free market water policies.
Against the Current: Privatization, Water Markets, and the State in
Chile challenges the glowing reports given by neoliberals in Chile
and the World Bank, showing that the results of this economic
experiment have actually been rather mixed. Within the agricultural
sector the Water Code has worked fairly well, although the market
incentives to conserve water have been ineffective and water rights
trading has been less active than expected. The Code's impact has
been more negative at the level of river basins, where the
institutional framework has revealed critical flaws in coordinating
multiple water users and resolving conflicts. Against the Current:
Privatization, Water Markets, and the State in Chile combines law,
political economy, and geography to analyze the disadvantages,
problems, and wider contexts of water markets. This book will
appeal to everyone interested in property rights, market-friendly
environmental policies, the political economy of sustainable
development, and the intersection of economics with law and
institutions.